Just Mortgages has launched a new business development initiative to help brokers cope with the potential downturn in business volumes.

Brokers will be offered a free review, where their business will be analysed and evaluated so suggestions can be made about potential new product areas.

Brokers will also be shown strategies to look for additional income opportunities from existing customers through the effective use of CRM systems and targeting product gaps that can be filled, such as missing protection policies.

Just Mortgage is also making available a range of marketing material designed to help brokers target dedicated product areas and attract new business enquiries. These various support sessions and programmes will be offered via Zoom and Teams. 

This new service will be free and available to Just Mortgages’ employed and self-employed broker.

Just Mortgages head of mortgages John Philips says: “Sadly mortgage brokers need to accept the strong likelihood that their business volumes will be reduced next year with completions taking longer, rising rates and lenders clamping down on affordability. 

“This will effectively mean a salary cut for a vast number of brokers and we want to provide the tools for them to get out ahead of this situation and have plans in place to boost their earnings.”

Just Mortgages says the business development package will help brokers look at the changing business landscape in relation to political, economic, social and technological changes and offer practical solutions that can be implemented to mitigate the negative effects.

Philips adds: “We can all be guilty of working flat out and getting caught up in the ‘day to day’ and missing the opportunity to plan ahead. 

“By offering this initiative to brokers we want to ensure that they put aside some time for this essential forward planning with as much or as little support as they need. With a vibrant mortgage market over recent years there has been little need for residential brokers to expand their business into other product areas such as commercial and secured loans but opportunities exist in these areas. 

“Brokers are wonderful at adapting to change and we want to provide support and a framework for them to thrive whatever the lending landscape is next year.”